Meiji Yasuda Asset Management Co Ltd. Has $2.34 Million Position in Fiserv, Inc. (NYSE:FI)

Meiji Yasuda Asset Management Co Ltd. boosted its position in Fiserv, Inc. (NYSE:FI) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,412 shares of the business services provider’s stock after purchasing an additional 666 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fiserv were worth $2,344,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Sanders Capital LLC acquired a new stake in Fiserv in the 3rd quarter valued at $764,543,000. Bank of New York Mellon Corp lifted its position in Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fiserv by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after buying an additional 90,475 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Fiserv in the 4th quarter valued at about $614,982,000. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is currently owned by insiders.

Fiserv Price Performance

NYSE:FI opened at $222.65 on Wednesday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The firm’s 50-day simple moving average is $221.23 and its 200 day simple moving average is $207.18. The firm has a market cap of $124.97 billion, a price-to-earnings ratio of 41.31, a P/E/G ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada increased their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Stephens raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets upped their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.